Anti-corruption work

Ethical and responsible conduct is of essential importance in Statkraft. We have established regulations, management structures and training which aim to ensure verifiable ethical conduct in all parts of our activities. A comprehensive integrity program was initiated in 2009, including a revision of the Group's business principles and the development of a manual and training program in anti-corruption for all employees.

Revised business principles – Statkraft's Code of conduct

The Group's business principles (now ”Statkraft's Code of conduct”) were revised in 2009. The principles were revised to better reflect the Group's international scope, the development in the relevant legislation and expectations from the owner and other key stakeholders. Statkraft's Code of conduct defines the expectations for ethical behaviour and promotes awareness of ethical issues. The Code of conduct is supported by more detailed guidelines and tools. At the beginning of 2010, Statkraft became a member of the UN Global Compact, and the Code of conduct has been formulated to include the Global Compact's ten principles.

Statkraft's Code of conduct applies to all companies in the Statkraft Group and all individuals employed by Statkraft, regardless of location. The importance of the code of conduct is emphasised by the fact that all employees must actively confirm that they have read the document, while compliance and follow-up is reported regularly. Reference is made to Statkraft's Code of conduct in all relevant contracts, be they with partners in joint ventures, suppliers, contractors, agents, consultants or partners in mergers and acquisitions.

In 2009, SN Power developed and adopted its own Code of conduct. The document encompasses the same topics and maintains the same level as regards the requirements set as Statkraft's code of conduct, procedures and guidelines.

New anti-corruption handbook

A practical anti-corruption handbook for employees will be launched in the spring of 2010. The handbook contains an overview of relevant rules and regulations, internal procedures as well as specific examples and challenges in connection with corruption.

Interactive training program

The development of an interactive anti-corruption training program for all employees was initiated in 2009. By means of practical assignments, the training program highlights relevant corruption issues, using the anti-corruption handbook as a reference. Corresponding training programs are being developed for other areas.

Closer follow-up of ethics

A new ethics indicator was included in the Group scorecard as of the first quarter of 2010. The indicator will, among other things, reflect the degree to which ethics incidents are recorded and followed up, and highlight the percentage of employees who have read Statkraft's Code of conduct.

No cases reported in 2009

Statkraft encourages employees to report all censurable issues. The Group audit is an independent notification channel with the right and duty to report to the board. No reported cases were recorded in 2009.